Cycle Trading

The daily dollar cycle peaked on day 23 followed by a big reversal printed on Thursday.

A big reversal this late in the daily cycle will very likely lead to a daily cycle decline.
Still, the dollar will need to break below 81.92 to form a swing high.
And then beak below the daily cycle trend line to confirm a daily cycle decline.

We noted on Wednesday night how the Miners printed a bullish reversal, perhaps in anticipation of a turn in the buck.

The Miners did form a swing low on Thursday.
The Miners still need to break above the declining daily cycle trend line to confirm a new daily cycle.
A break above the declining (red) intermediate cycle trend line confirms a new intermediate cycle.

The CCI Index took note of the reversal in the dollar.

The CCI Index had a big day up and formed a swing low.
With being so deep in the timing band, this will likely mark a new daily cycle.
A break above the declining (red) trend line confirms a new daily cycle.

Gold had a sluggish day.

Gold’s daily cycle charged out of the gates and peaked on day 3 and then retraced and tested the bottom last Friday.
Gold has been trading in a tight range since last Friday.
Gold needs to break above the day 3 peak of 1619.60 for this daily cycle to form as a right translated cycle.
Gold just may be waiting for the dollar decline to begin in earnest.

Palladium did not wait for the dollar.

Palladium also back tested the daily cycle low, but on Monday.
Since then it has rallied in the face of the rising dollar.
At day 11, palladium continues to set higher daily cycle highs and looks to be forming as a right translated daily cycle.

Now palladium has been leading gold this year.
Once the dollar breaks lower, we should see gold continue to follow …